Steadily overcoming difficulties, setting records in production and business
In 2022, Petrovietnam has set the motto "Managing fluctuations, Anticipating trends, Connecting resources, Promoting technology, Promoting investment, Sustainable development" as the goal to strive to achieve the highest level of assigned tasks/targets. Realizing that goal, Petrovietnam has set many records in 2022. At the end of 2022, all output and business targets in the Group's 5 fields completed the annual plan and grew highly compared to 2021 from 3-26%.
In 2022, the Group also set a record in production and trading output of nitrogenous fertilizer and petroleum products. Accordingly, nitrogenous fertilizer production completed the yearly plan 1 month and 14 days ahead of schedule; in 2022, it reached 1.84 million tons, exceeding 244 thousand tons (≈ 15%) of the yearly plan, up 9.2% compared to 2021 - reaching the highest record since Petrovietnam had its first nitrogenous fertilizer product in the fourth quarter of 2004 to early 2023.
The Group's nitrogenous fertilizer exports reached a record level with an output of 606 thousand tons, an increase of 2.1 times compared to 2021, accounting for 36% of the country's fertilizer export output and 37.4% of the country's fertilizer export turnover.
Petroleum production completed the yearly plan 1 month and 7 days ahead of schedule; in 2022, it reached 6.96 million tons, exceeding 784 thousand tons (≈ 13%) of the yearly plan, up 9.1% compared to 2021 - reaching the highest record since Dung Quat Oil Refinery went into commercial operation from June 1, 2010 to early 2023.
The Group's total revenue completed the yearly plan 4 months ahead of schedule, reaching VND931.2 trillion in 2022, exceeding the yearly plan by 67%, up 48% compared to 2021 - setting a new record in Petrovietnam's history, surpassing the record of 2012 when there were many favorable times in terms of oil prices and production output.
Petrovietnam - “Reaching new heights”
In 2023, steadfast in the growth target, with the motto "Managing fluctuations - Expanding scale - Accelerating digital transformation - Shifting models - Improving productivity - Regenerating business", the Group and its member units will deploy work and tasks during the year in a synchronous, consistent, effective and quality manner, surpassing themselves, setting new records.
In 2023, the Group's nitrogen production output will reach 1.76 million tons, exceeding the annual plan by 10.3%, of which granular nitrogen output will reach 950 thousand tons - a record level since the Group had its first ton of granular nitrogen product (January 29, 2012) until early 2024.
Petroleum production reached 7.36 million tons, exceeding the 2023 plan by 33.2%, up 5.8% compared to 2022. This is the highest record since Dung Quat Oil Refinery began commercial operation on June 1, 2010, 400 thousand tons higher than the record set in 2022. The Group's units also set their own records in 2023, such as PVOIL setting a record for petroleum trading with 5.21 million m3; PV GAS setting a record for LPG trading with nearly 2.5 million tons.
Total revenue of the Group reached VND 942.8 trillion, exceeding the annual plan by 39%, VND 11.6 trillion higher than the record in 2022 (VND 931.2 trillion), equivalent to 9.2% of the country's GDP. The Group's total contribution to the State budget reached VND 151.8 trillion, exceeding the 2023 plan by 94%, accounting for about 9% of the total state budget revenue in 2023.
Entering 2024, with the goal of setting the following year higher than the previous year, the Group strives to achieve the growth rate target of 3.5-6%, revenue reaching over VND 970 trillion, promoting investment, creating growth momentum for long-term development. In the first 9 months of 2024, Petrovietnam's total revenue is estimated at VND 736,500 billion, completing 100% of the annual plan, reaching the target 3 months ahead of schedule, up 12% over the same period in 2023; the Group's total state budget contribution is estimated at VND 115,200 billion; comprehensively completing 6/6 financial targets for the whole year 2024 according to the plan assigned by the State Capital Management Committee at Enterprises and the Board of Members, reaching the target 3-5 months ahead of schedule. Of which, 5/6 growth targets are from 9-31%: the Group's total revenue increases by 12%; The Group's total state budget contribution increased by 9%; consolidated revenue increased by 14%.
With the results achieved in recent years, as of June 2024, Petrovietnam has completed 10/12 targets according to the 5-year plan 2021-2025, especially 2 very important targets: profit and budget payment. It is estimated that by the end of 2024, Petrovietnam will exceed the 5-year plan in terms of total revenue. Thus, after 3 years (2021-2024), Petrovietnam has fully completed the financial targets according to the 5-year plan 2021-2025.
Continue to affirm the strength of the Petrovietnam brand
The results achieved in recent years, especially the continuous setting of records and breaking of its own records, have been a strong affirmation of the strength and reputation of the Petrovietnam brand.
Recently, Petrovietnam was honored as the leading brand in the Top Strong Brands of Vietnam 2024, affirming the role of a leading state-owned economic group, making important contributions to the cause of building and protecting the sovereignty of the Fatherland; along with the orientation of sustainable development to become a national industrial - energy group. This has demonstrated that the Petrovietnam brand has a high value growth rate, continuously appearing in the Top 10 strong brands in Vietnam.
With the goal of “Reaching new heights”, Petrovietnam aims to make efforts and be determined to successfully complete greater tasks in 2024 in particular and the 2021-2025 period in general. At the same time, it aims to successfully implement the development strategy, establish many new achievements, realize the mission of becoming a National Industry - Energy Group, contributing to building a prosperous and powerful Vietnam.
